The analysts forecast the Global Chip on Board LED market to grow at a CAGR of 40.71 percent over the period 2013-2018. One of the key factors contributing to this market growth is the declining ASP of LEDs. The Global Chip on Board LED market has also been witnessing the increasing demand of COB LED in general lighting applications. However, the fluctuating global economic conditions could pose a challenge to the growth of this market.

The report, the Global Chip on Board LED Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC and the EMEA regions, and the Americas; it also covers the Global Chip on Board LED market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Commenting on the report, an analyst from the team said: The shift from traditional lighting sources to solid-state lighting technology has resulted in the wider adoption of COB LEDs. COB LEDs are wide-area light emitters and thus, are increasingly used in highway and street lighting, which require large amounts of light spread across a large area. COB LEDs produce better color mixing, better lighting effect, and require very low thermal resistance systems, thereby enhancing the total consumer experience. Thus, greater power density, efficient heat dissipation, small space requirement, and high performance makes COB LEDs more suitable than conventional LED packages for various general lighting applications.

According to the report, one of the major drivers in the market is the declining ASP of LEDs. The huge decline in the ASP of LEDs is resulting in increased adoption of COB LEDs in various lighting application segments. Additionally, COB LEDs offers high intensity with a homogenous luminous field suitable for high-power LED applications, which also increases the potential for savings.

Further, the report states that one of the major challenges in this market is the fluctuating global economic conditions. Europe's ongoing debt crisis had a spillover effect on the global economy, which is also negatively affecting the demand for COB LEDs because the production of COB LEDs involves a significant cost for manufacturers.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.